1. The document discusses five disaster financial moves that can cripple a long-term financial plan. These include: buying a home that is more than one can afford based on income; making private equity investments in friends' businesses without being actively involved; carrying long-term credit card debt that compounds at high interest rates; continually buying new automobiles rather than used, which rapidly lose value; and not saving enough for retirement goals.
Things to consider when buying a home in Eastern CT including Ledyard, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.
There is more to buying a home than looking at houses for sale online. This brochure is packed full of great information for both the first time home buyer, and experienced property owners. For even more information, CALL TROY 770-676-8999.
Take a peek at the most recent sales trends and step by step home purchasing time line to help you decide if this is the right time for you to purchase a home.
This packet contains the latest trends and information for rates and prices across the US. It contains important information about the steps to purchasing real estate, hiring the right real estate agent and reasons why you should be providing your mortgage broker with a ton of paperwork upfront in order to get the most accurate quote on how much of a house you can afford. Use this as a guide in helping you decide whether or not now is the time to buy and use it during your home buying process. Knowledge is power, the more you know, the easier the home buying process will be for you. Not only that - the more you know, the less you may be given the run-around!
Machines Used In the Pharmaceutical IndustrySaintyco Group
The product ranges comprise capsules, tablets, liquid medicines, injections, powders and several others. These different types of items are packed employing different types of filling machines, for example capsules packed using capsule filling machine.
Things to consider when buying a home in Eastern CT including Ledyard, Groton, Mystic, Stonington, Norwich, Montville, New London, East Lyme, or Waterford.
There is more to buying a home than looking at houses for sale online. This brochure is packed full of great information for both the first time home buyer, and experienced property owners. For even more information, CALL TROY 770-676-8999.
Take a peek at the most recent sales trends and step by step home purchasing time line to help you decide if this is the right time for you to purchase a home.
This packet contains the latest trends and information for rates and prices across the US. It contains important information about the steps to purchasing real estate, hiring the right real estate agent and reasons why you should be providing your mortgage broker with a ton of paperwork upfront in order to get the most accurate quote on how much of a house you can afford. Use this as a guide in helping you decide whether or not now is the time to buy and use it during your home buying process. Knowledge is power, the more you know, the easier the home buying process will be for you. Not only that - the more you know, the less you may be given the run-around!
Machines Used In the Pharmaceutical IndustrySaintyco Group
The product ranges comprise capsules, tablets, liquid medicines, injections, powders and several others. These different types of items are packed employing different types of filling machines, for example capsules packed using capsule filling machine.
Most of the time when we talk about personal finance,
topics including credit card debt, savings, investments, Minsurance, and coupons creep into the discussion.
What Is The Federal Estate Tax Marital DeductionMark Eghrari
When you are planning your estate, you should be aware of of the existence of the federal estate tax which can significantly erode assets that you are passing on to your loved ones. Learn more about federal estate tax in this presentation.
Most of the time when we talk about personal finance,
topics including credit card debt, savings, investments, Minsurance, and coupons creep into the discussion.
What Is The Federal Estate Tax Marital DeductionMark Eghrari
When you are planning your estate, you should be aware of of the existence of the federal estate tax which can significantly erode assets that you are passing on to your loved ones. Learn more about federal estate tax in this presentation.
Still don’t understand the difference between qualified and nonqualified funds? Check out this Abaris module to learn how your annuity will be taxed by the IRS.
There are a number of tax implications associated with annuities and, as with all major financial decisions, it’s easy to get confused. We’ve laid out the basic tax implications that you need to know before you make a decision.
The way income annuities are taxed is based on what kind of money goes into the purchase of the annuity. Specifically, whether the input money or premium is pre- or post- tax money. If the input is pre-tax dollars, then the distribution from the income annuity is subject to income tax. If the input funds are post-tax dollars, however, then the distributed payouts are partially taxed, and partially not taxed. This second type of income annuity (the one purchased with post-tax dollars) is known as a non-qualified annuity, and the distribution is broken into a principal, which is not taxed, and a gain, which is taxed.
The size of the gain, meaning the taxed portion of the distribution, is calculated based on the Exclusion Ratio. The Exclusion Ratio is the ratio of the total investment in the contract to the expected return. To further break it down, the total investment in the contract equals the the premium you’ve paid for the contract. The expected return is simply the monthly payout times the IRS expectancy for how long you’ll receive those payments, or your life expectancy. This is no arbitrary number; far from it. The IRS uses actuarial tables based on age, sex, and overall health or longevity expectations to arrive at an average life expectancy of an individual.
You’ve got the framework, now let’s see an example. Say you’ve invested $100,000 (the premium) in an annuity that will pay $750 per month ($9,000 per year), beginning at age 62, for the rest of your life. You are the sole annuitant, meaning the only person receiving the annuity payments, and you take no early withdrawals. According to the IRS longevity tables you’ll receive payments for 22.5 years. In order to determine the tax implications, we must find the exclusion ratio:
Exclusion Ratio = Total Investment in the Contract / Expected Return
Total Investment in the Contract = Premium = $100,000
Expected Return = Yearly Payout x Expected Years of Payout = $9,000 x 22.5 yrs = $202,500
So….
Exclusion Ratio = $100,000 / $202,500 = 49.4%
Therefore, of the $9,000 you’ll receive each year, 49.4% will be non-taxed, meaning $4,446 will be non-taxed. This leaves the remaining taxed portion to be $4,554. The actual tax liability (or how much you pay in taxes) will depend on your individual tax bracket. And once you’ve received the entire premium back in the form of principal repayments, you’ll then be taxed on the entire amount. In this example, beginning at age 84.5 (62 years old + 22.5 years), your payouts would be fully taxed.
2. Thisisourtoponeasitwilltrulycrippleyourlongtermfinancialplan.Yearsago,weheardofavery
simplefinancialratiocalledtheprimaryobligationratiowhichsaidthatyourmortgagepayment
shouldn’tbemuchmorethan28%to34%ofyourtotalgrossmonthlyincome.Usethatstatisticin
conjunctionwithputting20%downonyourhomepurchaseandyouwilltypicallyavoidthisnumberone
financialdisaster.Itisimpossibletosqueezeintoahomefinanciallylikeyouwouldacarorsomeother
onetimepurchase.Manypeopleforgetthecostoffurnishingthehousewhichcanrun5%to15%ofthe
homevaluedependingonyourtaste.Whilemostpeoplethinkthattheycan‘fill’theirhomeoverthe
restoftheirlives,thetruthispeopleworkhardtofilluptheirunfinishedhomescompoundingtheir
initiallybaddecision.Inaddition,youshouldestimatethatbasicupkeepofyourhomewillbe2%to4%
annually.Thisgoesfromlandscaping,toablownwaterheater,orjustpaintingroomsagain. Many
peopledonotputthesecostsintotheirbudgetwhentheyfiguretheirmortgagepayment.Last,forthe
newlymarriedcouplethathastwoincomes,youshouldconsiderwhatwillhappenwhenyouhaveyour
firstchild.Inmanycases,onespousedecidestostayhomeafterthebirthofafirstchild.Beyondthenew
kidexpenditures,thebudgettakesahugehitwithonelessincome.
Buying More Home Than You Can Afford
1
If you avoid these 5 disaster financial moves, you should have a good chance of
becoming prosperous and hitting your goals. If you have made one of these already, it
may be time to come see us to show you how to get back on track.
If you avoid these 5 disaster financial moves, you should have a good chance of
becoming prosperous and hitting your goals. If you have made one of these already, it
may be time to come see us to show you how to get back on track.
Thisisourtoponeasitwilltrulycrippleyourlongtermfinancialplan.Yearsago,weheardofavery
simplefinancialratiocalledtheprimaryobligationratiowhichsaidthatyourmortgagepayment
shouldn’tbemuchmorethan28%to34%ofyourtotalgrossmonthlyincome.Usethatstatisticin
conjunctionwithputting20%downonyourhomepurchaseandyouwilltypicallyavoidthisnumberone
financialdisaster.Itisimpossibletosqueezeintoahomefinanciallylikeyouwouldacarorsomeother
onetimepurchase.Manypeopleforgetthecostoffurnishingthehousewhichcanrun5%to15%ofthe
homevaluedependingonyourtaste.Whilemostpeoplethinkthattheycan‘fill’theirhomeoverthe
restoftheirlives,thetruthispeopleworkhardtofilluptheirunfinishedhomescompoundingtheir
initiallybaddecision.Inaddition,youshouldestimatethatbasicupkeepofyourhomewillbe2%to4%
annually.Thisgoesfromlandscaping,toablownwaterheater,orjustpaintingroomsagain. Many
peopledonotputthesecostsintotheirbudgetwhentheyfiguretheirmortgagepayment.Last,forthe
newlymarriedcouplethathastwoincomes,youshouldconsiderwhatwillhappenwhenyouhaveyour
firstchild.Inmanycases,onespousedecidestostayhomeafterthebirthofafirstchild.Beyondthenew
kidexpenditures,thebudgettakesahugehitwithonelessincome.
THE CONTENT IS DEVELOPED FROM SOURCES BELIEVED TO BE PROVIDING ACCURATE INFORMATION. THE INFORMATION IN THIS MATERIAL IS NOT INTENDED AS TAX OR
LEGAL ADVICE. IT MAY NOT BE USED FOR THE PURPOSE OF AVOIDING ANY FEDERAL TAX PENALTIES. PLEASE CONSULT LEGAL OR TAX PROFESSIONALS FOR SPECIFIC
INFORMATION REGARDING YOUR INDIVIDUAL SITUATION. THIS MATERIAL WAS DEVELOPED AND PRODUCED BY HELLO MY NAME IS, LLC TO PROVIDE INFORMATION ON A
TOPIC THAT MAY BE ON INTEREST. THE OPINIONS EXPRESSED AND MATERIAL PROVIDED ARE FOR GENERAL INFORMATION, AND SHOULD NOT BE CONSIDERED A
SOLICITATION FOR THE PURCHASE OR SALE OF ANY SECURITY. COPYRIGHT 2014 HELLO MY NAME IS, LLC.
5 Disaster Financial Moves
Buying More Home Than You Can Afford
1
Sureyouwillhearthestoryofsomeguywhoinvestedinastartuptechnologycompany,anewly
developedbuilding,orsomefancynewgadgetwhomadeaboatloadofmoney.However,fortheregular
guysandgalswhoputmoneyintoafriend’sstartuprestaurant,apieceoflandtheyneversaw,orafew
sharesinanewcompanyitgenerallydoesn’tworkoutinthelongrun.Theoddsofcashinginaprivate
equityinvestmentareveryslim.Lessthan5%ofthetimedoesmoneyactuallycomeoutthebackendof
theinvestment,withmoreoftentheresultbeingalossofallofthemoney.Hereisoursimplerule: Ifyou
aren’tgoingtobeactivelyinvolvedinthebusinessasanownerstayaway. Unlessofcourseyouwantto
loseyourmoneyorhaveittake10yearslongerthanyouthoughttotryandgetitback.
Private Equity Investments With Friends
2Sureyouwillhearthestoryofsomeguywhoinvestedinastartuptechnologycompany,anewly
developedbuilding,orsomefancynewgadgetwhomadeaboatloadofmoney.However,fortheregular
guysandgalswhoputmoneyintoafriend’sstartuprestaurant,apieceoflandtheyneversaw,orafew
sharesinanewcompanyitgenerallydoesn’tworkoutinthelongrun.Theoddsofcashinginaprivate
equityinvestmentareveryslim.Lessthan5%ofthetimedoesmoneyactuallycomeoutthebackendof
theinvestment,withmoreoftentheresultbeingalossofallofthemoney.Hereisoursimplerule: Ifyou
aren’tgoingtobeactivelyinvolvedinthebusinessasanownerstayaway. Unlessofcourseyouwantto
loseyourmoneyorhaveittake10yearslongerthanyouthoughttotryandgetitback.
Private Equity Investments With Friends
2
3. THE CONTENT IS DEVELOPED FROM SOURCES BELIEVED TO BE PROVIDING ACCURATE INFORMATION. THE INFORMATION IN THIS MATERIAL IS NOT INTENDED AS TAX OR
LEGAL ADVICE. IT MAY NOT BE USED FOR THE PURPOSE OF AVOIDING ANY FEDERAL TAX PENALTIES. PLEASE CONSULT LEGAL OR TAX PROFESSIONALS FOR SPECIFIC
INFORMATION REGARDING YOUR INDIVIDUAL SITUATION. THIS MATERIAL WAS DEVELOPED AND PRODUCED BY HELLO MY NAME IS, LLC TO PROVIDE INFORMATION ON A
TOPIC THAT MAY BE ON INTEREST. THE OPINIONS EXPRESSED AND MATERIAL PROVIDED ARE FOR GENERAL INFORMATION, AND SHOULD NOT BE CONSIDERED A
SOLICITATION FOR THE PURCHASE OR SALE OF ANY SECURITY. COPYRIGHT 2014 HELLO MY NAME IS, LLC.
THE CONTENT IS DEVELOPED FROM SOURCES BELIEVED TO BE PROVIDING ACCURATE INFORMATION. THE INFORMATION IN THIS MATERIAL IS NOT INTENDED AS TAX OR
LEGAL ADVICE. IT MAY NOT BE USED FOR THE PURPOSE OF AVOIDING ANY FEDERAL TAX PENALTIES. PLEASE CONSULT LEGAL OR TAX PROFESSIONALS FOR SPECIFIC
INFORMATION REGARDING YOUR INDIVIDUAL SITUATION. THIS MATERIAL WAS DEVELOPED AND PRODUCED BY HELLO MY NAME IS, LLC TO PROVIDE INFORMATION ON A
TOPIC THAT MAY BE ON INTEREST. THE OPINIONS EXPRESSED AND MATERIAL PROVIDED ARE FOR GENERAL INFORMATION, AND SHOULD NOT BE CONSIDERED A
SOLICITATION FOR THE PURCHASE OR SALE OF ANY SECURITY. COPYRIGHT 2014 HELLO MY NAME IS, LLC.
Besidesareasonablehomemortgage,mostdebtjustisn’tgoodforyou.Theonekillerinallofthedebts
iscarryingongoingcreditcarddebtonalongtermbasis. Sometimescreditcarddebtoccursbecauseof
someonetimeemergencyorcatastrophe,butmoreoftenthannotitisjustsimplycreatedbyliving
beyondyourfinancialmeans.Youspendmoremoneythanyoumakeanddoitforasustainedperiod
timeandyouendupowingthewrongpeople.GettingtrackeddownbyaloansharkwiththeSoprano’s
won’tendupfeelinggood,andneitherdoeswatchingyourdebtcompoundata18%to24%interest
ratewiththecreditcardcompany.Atan18%interestrate,yourdebtwilldoublealmostevery4years.
Thesooneryougetabudgetandafinancialplan,thesooneryouwillpayoffthedebt.
Carrying Credit Card Debt
3Carrying Credit Card Debt
3
We’vethoughtofsellinganoldcarwithnewcarsmellairfreshenersrightonourwebsitetogetpeople
tostopbuyingnewautomobiles.Makewhateverargumentyoulike;buyinganewcarisjustaboutthe
worstinvestmentyoucanmake.Wedon’tmeantradinginanoldercarforanewer‘used’car,butjust
buyinganewcarperiod.We’vewrittenmanyarticlesonthissubject,andifyourfinancialadvisorhadan
investmentthatyouknewwouldgodowninvalue40%overthefirsttwoyears,youjustsimplywouldn’t
doit.Withbodystyleschanginglessfrequentlyincarstoday,youcansettleforgettingacarwithalmost
allthenewtechnologyfor40%lessprice.Thisfinancialmoveover20yearscansaveyouhugemoney
whichyoucanapplytowardyourfinancialgoals.
New Automobiles
4New Automobiles
Not Saving EnoughNot Saving Enough
4
It’struethatthemarketsandeconomyhavebeenshaky,andcouldbeformanyyearstocome.When
youlookatagoallikeretirement,mostofusdonotwanttoretirelaternordowewanttoliveonless
afterworkingfor30or40years.Ifyoucannotcontrolthemarketsoryouroverallrateofreturn,theone
thingyoucandototiptheoddsinyourfavorissavemore.Useoursimpletipofsaving33%ofevery
raiseyougetandyouwilllearntolivewithinyourmeansvs.spendingyourraisesandbonuses.Over
timethemoneywillbeoutofmindandoutofsightputtingyouinapositionofrefusalcomeretirement
time.
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